The House has launched a student loan scheme investigation to uncover fund misuse and restore trust in public education funding across Nigerian institutions
The House of Representatives has begun a student loan scheme investigation to address claims of fund diversion, unethical practices, and disbursement delays.
Also read: [FULL LIST] Student loan: UNILAG, OAU, others receive N2.9tn from NELFUND
Speaker Tajudeen Abbas emphasised the House’s commitment to uncovering the truth and ensuring accountability.
“The credibility of the programme and the trust of the Nigerian people in public institutions are at stake. We cannot fold our arms and allow this to be swept under the carpet,” Abbas stated during Thursday’s public hearing.
The investigation follows concerns over delays, lack of transparency, and suspected collusion. Citing constitutional powers, Abbas explained that the probe aims to correct flaws, not target individuals unfairly.
He added, “The goal of this House is not to witch-hunt anyone but to ensure that every kobo allocated to support Nigerian students is used judiciously and transparently.”
Chairman of the Committee, Ifeoluwa Ehindero, highlighted the scheme’s success, saying ₦73.1 billion has been disbursed to over 366,000 beneficiaries.
According to Ehindero, the initiative has revived hope for families across the country.
Managing Director of NELFUND, Akintunde Sawyer, noted that over 650,000 registrations have been recorded, with 2,000 processed daily. Verified funds are paid directly to institutions.
Also read: Student loan: NELFUND disburses N2.5bn as loans for 22,120 students
The House plans to continue hearings to gather input from institutions, regulators, and affected students.
